The US Internal Revenue Service has opened the e-filing of tax return on 25 January 2011. Those who are filing delayed will have their forms processed by the middle of February due to the changes in the law taxes which were effected in December. This then extends the deadline in filing the form.
The IRS is still encouraging tax filers to use the electronic filing system of the IRS or the IRS e-file to ensure the accuracy of 2011 tax return. The IRS e-file is favorable to those who are also anticipating quick refunds. The e-file method has significantly increased form processing at less time but with more accuracy.
Taxpayers can now use any of the three options available to file conveniently: through the IRS Free File, commercial software or having a preparer. Tax payers who are preparing their personal 2011 tax return themselves can access the IRS Free File from the IRS website. With the new electronic system, the IRS expects more accurate information on the form, increase in turnovers of taxpayers and facilitate convenience in tax refunds.
Free File
The Free File is a software that is capable of preparing the tax for $58,000 or less income earners, as well as electronically filing the 2011 tax return form. This is free of charge. The online Free File Fillable Forms, on the other hand, caters to any income bracket earner which is the electronic form of the IRS paper. However, Fillable Forms can only compute.
With the Help of Commercial Software
Software-aided tax filers who opt to prepare their own 2011 tax return using commercial software can expect a speedy processing within 2 days and an acknowledgement receipt validated by the IRS, either rejected or accepted. With the commercial tax software, security is assured. However, e-filing through commercial tax software carries a price tag.
Preparers
Another option for this is professional preparers available to sort out your 2011 tax return easily – most of them are mandated by law to electronically file the return. Taxes owed to the government can be paid electronically or by paying in check through the e-file then mail the payment voucher. The tax deadline is set in April 2011.